Lilpup Member Username: Lilpup
Post Number: 1790 Registered: 06-2004
| Posted on Thursday, March 08, 2007 - 3:38 pm: | |
Ford will pay bonuses to all workers http://www.detnews.com/apps/pb cs.dll/article?AID=/20070308/U PDATE/703080460/1148 "The company believes that recognizing accomplishments is important," said Ford spokeswoman Marcey Evans. "It's a recognition that all employees contributed to the progress that the company made." Employees learned of the bonuses Thursday in an e-mail message from CEO Alan Mulally. |
Psip Member Username: Psip
Post Number: 1526 Registered: 04-2005
| Posted on Thursday, March 08, 2007 - 3:45 pm: | |
Alan Mulally: Mark, were going broke, Ford may not survive. Mark Fields: Lets give all the money away. Alan Mulally: Brilliant! |
3rdworldcity Member Username: 3rdworldcity
Post Number: 498 Registered: 01-2005
| Posted on Thursday, March 08, 2007 - 3:48 pm: | |
Psip: Were you a fly on the wall in the exec dining room? Rings true to me. Very funny. |
Dougw Member Username: Dougw
Post Number: 1591 Registered: 11-2003
| Posted on Thursday, March 08, 2007 - 4:41 pm: | |
LOL @ Psip |
Islandman Member Username: Islandman
Post Number: 347 Registered: 08-2004
| Posted on Thursday, March 08, 2007 - 4:43 pm: | |
Excellent Psip! |
Goat Member Username: Goat
Post Number: 9274 Registered: 10-2003
| Posted on Thursday, March 08, 2007 - 4:55 pm: | |
Don't forget Mulally's corporate jet that can wisk him AND his family away at a moments notice. |
Detroitplanner Member Username: Detroitplanner
Post Number: 1054 Registered: 04-2006
| Posted on Thursday, March 08, 2007 - 5:14 pm: | |
I bet the folks that took the buy-out are feeling doubly screwed! |
Spiritofdetroit Member Username: Spiritofdetroit
Post Number: 347 Registered: 11-2006
| Posted on Thursday, March 08, 2007 - 5:21 pm: | |
planner- "Even employees who served through the end of last year and recently separated from the company by accepting a voluntary package offer are eligible." From Mullaly's email.... |
Lilpup Member Username: Lilpup
Post Number: 1793 Registered: 06-2004
| Posted on Thursday, March 08, 2007 - 5:29 pm: | |
Ford's Shares Rally as Credit Suisse Raises Rating Bloomberg.com Ford may report a first-quarter pretax loss of $1.4 billion to $1.5 billion, analyst Christopher Ceraso wrote in a note today. Ceraso previously estimated a loss of $1.7 billion. He raised his rating to ``neutral'' from ``underperform,'' in at least the fourth analyst upgrade of Ford since December. Ceraso's upgrade of Ford follows similar moves by Deutsche Bank AG, Morgan Stanley and Merrill Lynch. |
Scottr Member Username: Scottr
Post Number: 368 Registered: 07-2006
| Posted on Thursday, March 08, 2007 - 5:29 pm: | |
for the sake of argument... last year Ford had a 5 cent dividend, for a total dividend payout of ~91 million. from other articles, it appears the payouts will be $300-$800. even take 700 as an average (fairly generous), multiply it by the 130,000* US & Canadian employees, you get 91 million. So what's the difference between giving the money to the stockholders, and giving it to the employees who are the key to your revival? not that i'm saying i agree with the move, but i can see the logic. *i'm not sure as to the accuracy of that number, but from what i did find, it appears to be close. |
Psip Member Username: Psip
Post Number: 1527 Registered: 04-2005
| Posted on Thursday, March 08, 2007 - 5:32 pm: | |
Monday Ford Motor Co. has recalled about 155,000 pickup trucks and sport utility vehicles, including F-250, F-350, F-450 and F-550 Super Duty trucks. Wednesday Ford next week will begin recalling 109,664 Crown Victoria sedans because cracks can develop in their steel wheels, causing rapid air loss in tires during high-speed chases. And the Hits just keep on coming. |
Lilpup Member Username: Lilpup
Post Number: 1794 Registered: 06-2004
| Posted on Thursday, March 08, 2007 - 6:04 pm: | |
all have some recalls, others have more both in numbers and seriousness ~ Most Recalled Cars and a recent biggie ~ Volkswagen recalls 790,000 cars |
Charlottepaul Member Username: Charlottepaul
Post Number: 636 Registered: 10-2006
| Posted on Thursday, March 08, 2007 - 6:08 pm: | |
"So what's the difference between giving the money to the stockholders, and giving it to the employees who are the key to your revival?" The more money you give to the stockholders, the more people will invest in the company which leads to more stock purchases and liquid assets for the corporation. Giving more money to the employees leads to... Anyway, while it is important to reward employees, there is no saying that that investment will garner a return. |
Scottr Member Username: Scottr
Post Number: 369 Registered: 07-2006
| Posted on Thursday, March 08, 2007 - 6:24 pm: | |
charlottepaul, while dividends may be a way to increase the stock price by making it more attractive as a money maker, it does nothing to help the bottom line. it garners NO return. does ford get a cut of the money if investor A sells to investor B? (that's an honest question, i don't think it does, but i could be wrong) granted, my knowledge of stocks is admittedly limited, but other than an IPO or issuing additional shares, i don't see stock purchases bringing more money into the company. Ford is facing serious morale problems, this is an understandable move to reinvigorate employees faced with job cuts and an uncertain future. Seems to me to be better than throwing the money to Wall Street, who is more concerned about padding their own wallets now than the long-term health of the company. In any case, this may or may not take the place of dividends. my numbers still show that it works out to about 5 cents a share. I'd say that's worth it to help alleviate a serious problem in the company. |
Lilpup Member Username: Lilpup
Post Number: 1795 Registered: 06-2004
| Posted on Thursday, March 08, 2007 - 6:28 pm: | |
Big business has lost any semblence of serving a purpose other than achieving short term gain for shareholders invest in any employees below corporate board level? major league business sin pay attention to customers' needs or desires? ditto (and forget about EVER making a customer feel valued) Let Ford buck the trend (Message edited by lilpup on March 08, 2007) |
3rdworldcity Member Username: 3rdworldcity
Post Number: 499 Registered: 01-2005
| Posted on Thursday, March 08, 2007 - 6:28 pm: | |
Charlottepaul: An increase in the number of stock purchasers does not put any money in the company's pockets (unless there's a new issue of stock by the company, in which case it would get the proceeds.) The more purchasers there are for existing stock usually makes the shares increase in value, which benefits the shareholders. As the perception of the company by debt rating companies and Wall Street gets better, it could lead to lower debt costs and increase the ability of the company to sell more stock, bonds etc. |
Karl Member Username: Karl
Post Number: 6457 Registered: 09-2005
| Posted on Thursday, March 08, 2007 - 7:30 pm: | |
Today from the American Family Association: Ford dropping public support for the homosexual agenda? It appears that Ford Motor Company, in response to AFA's boycott, is silently dropping public support for the homosexual agenda. Here's why. For years, Ford has advertised in the homosexual publications OUT and The Advocate. Since January Ford has not had any advertising in the magazines. In addition, Ford no longer sponsors the Gay & Lesbian Alliance Against Defamation Media Awards, which they have sponsored for years. When we looked at all the other homosexual events Ford has sponsored in the past, Ford was nowhere to be found. The homosexual groups have remained silent about Ford's moves, fearful that other companies may follow Ford's lead. Since the boycott began, not a single homosexual group has publicly supported Ford. However, it could be that the homosexual groups have agreed to be treated as second-class citizens by Ford, continuing to get money from Ford but agreeing not to publicly acknowledge Ford's support. In February, Ford's sales dropped 13.5% compared to a year ago. Ford's sales have consistently gone down since the boycott began. |
Jams Member Username: Jams
Post Number: 4872 Registered: 10-2003
| Posted on Thursday, March 08, 2007 - 7:36 pm: | |
Karl, Why are you so concerned about gays? They rarely have abortions. |
Scottr Member Username: Scottr
Post Number: 370 Registered: 07-2006
| Posted on Thursday, March 08, 2007 - 7:39 pm: | |
nice way for them to spin it as if their boycott has had any affect. Ford truck sales were down in february. meanwhile, their family cars (fusion, milan, mkz) are up. you'd think the family cars would be down too if the 'American Family Association' boycott was having a serious affect. |
Karl Member Username: Karl
Post Number: 6460 Registered: 09-2005
| Posted on Thursday, March 08, 2007 - 7:48 pm: | |
Jams, I'm more concerned about Ford and Michigan. Haven't invested & lost money on gay stocks lately. |
Detroitplanner Member Username: Detroitplanner
Post Number: 1055 Registered: 04-2006
| Posted on Thursday, March 08, 2007 - 8:23 pm: | |
Ford is not supporting a lot of things they used to support. Maybe seniors should stop buying Ford products because they no longer subsidize the Senior PGA event at the Michigan TPC in Dearborn? |
Karl Member Username: Karl
Post Number: 6461 Registered: 09-2005
| Posted on Thursday, March 08, 2007 - 10:51 pm: | |
Detroitplanner, maybe seniors should resume buying Ford products so they can resume subsidizing the Senior PGA event at the MI TPC in Dearborn? Nothing like throwing Grandma from the train during her golden years (after she built Dearborn) |
Johnlodge Member Username: Johnlodge
Post Number: 203 Registered: 10-2003
| Posted on Friday, March 09, 2007 - 3:54 pm: | |
I think it's pretty clear that the bonuses were given to boost morale. It's pretty hard to hear nothing about how bad your company, your city, and your state are doing over and over and over again and not let it get you down. I don't know if it's fiscally responsible or not, but if it the workers can feel a little better and maybe take their family out here and there with their bonus, they will probably have better attitudes. I dunno, I'm not going to argue with anybody who says it was a bad idea, but I can see the reasoning behind it. |
Sstashmoo Member Username: Sstashmoo
Post Number: 34 Registered: 02-2007
| Posted on Friday, March 09, 2007 - 9:03 pm: | |
Seems if the autoworkers new the employment situation outside of their job, that would be a morale booster within itself.. Sorry, but I just don't understand what the corporate obligation is. $100k Buyouts? Bonuses and lost 12 billion dollars? Any other business in the US when times are tough, lays people off. Union or no union. The autos need to start running their companies. Do whatever it takes to legally make themselves solvent. Golden handshakes aren't going to fix anything. |
Charlottepaul Member Username: Charlottepaul
Post Number: 646 Registered: 10-2006
| Posted on Friday, March 09, 2007 - 9:33 pm: | |
I second that; it's hard to break the decades old habits of the industry and its workers... |
Lilpup Member Username: Lilpup
Post Number: 1814 Registered: 06-2004
| Posted on Friday, March 09, 2007 - 9:44 pm: | |
no other industry has severance pay or bonuses? |
Charlottepaul Member Username: Charlottepaul
Post Number: 649 Registered: 10-2006
| Posted on Friday, March 09, 2007 - 9:55 pm: | |
Maybe professional sports, if that counts? Regardless, we aren't going to take a reading of all industries to find out, rather the point is that the auto industry has been way over-valued and therefore its employees over-compensated. IT NEEDS TO MAKE ITSELF AT LEAST AKIN TO OTHER MAJOR INDUSTRIES IN THE U.S. |
Lilpup Member Username: Lilpup
Post Number: 1816 Registered: 06-2004
| Posted on Friday, March 09, 2007 - 9:57 pm: | |
like what, stock brokering? |
Elviswithteeth Member Username: Elviswithteeth
Post Number: 2 Registered: 03-2007
| Posted on Saturday, March 10, 2007 - 12:02 am: | |
You mean I left Ford and going to miss this bonus? Oh darn! Oh thats rights....we dont get a raise this year. Good Job...Alot Moola, I did get my cool mil bonus. |
Ja1mz Member Username: Ja1mz
Post Number: 11 Registered: 02-2007
| Posted on Saturday, March 10, 2007 - 5:56 am: | |
I was laid off from Xerox in '03 after 13 years, all I got was 1 week of pay for each year I worked. They continue to diminish the ranks to this day. None of us got anything additional for not growing the business. |
Nyburgher Member Username: Nyburgher
Post Number: 91 Registered: 10-2006
| Posted on Saturday, March 10, 2007 - 11:11 pm: | |
Giving away money you don't have to anyone just reduces the book value per share. Unless you turn it around you are liquidating the company-- I think? |
Lilpup Member Username: Lilpup
Post Number: 1827 Registered: 06-2004
| Posted on Saturday, March 10, 2007 - 11:52 pm: | |
1) it's the company's money 2) concentrating solely on book value per share is the kind of short term thinking that gets so many companies into trouble 3) you're not going to turn anything around with a demoralized workforce 4) if well-managed, a company's workforce can be it's greatest asset |
Nyburgher Member Username: Nyburgher
Post Number: 92 Registered: 10-2006
| Posted on Sunday, March 11, 2007 - 12:12 am: | |
It's the shareholder's money. For the most part my comment was about how crazy the dividend is at this point. The "demoralized workforce" will be happy when the company has lost all it's assets and they lose their jobs? My impression from a distance is that you have a lot of workers who don't care about how the company does just as long as they get paid. They need to get government jobs. |
Lilpup Member Username: Lilpup
Post Number: 1828 Registered: 06-2004
| Posted on Sunday, March 11, 2007 - 12:17 am: | |
keep your distance - you're obviously clueless about industry |
Nyburgher Member Username: Nyburgher
Post Number: 93 Registered: 10-2006
| Posted on Sunday, March 11, 2007 - 12:32 am: | |
Clueless enough to have avoided this stock. |